MVP
overview
What is a Minimum Viable Product?
Eric Ries’ book The Lean Startup, published in 2011, revolutionized the startup world by introducing several new principles. One of these was the MVP or minimum viable product. A minimum viable product (MVP) is an initial version of a product with its fundamental components and features, just enough to be usable by early customers who can then provide feedback and help determine its potential in the market. You can use MVPs to gauge how customers respond to a fresh idea. If the idea has merit, you can use customer feedback to design the following variant of the product, thus protecting time and resources by making sure you are investing in a project that’s likely to be successful.
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